New Times Corp. Business Model Canvas

Engage landowners, governments and private license holders to secure exploration and production rights, noting concession terms commonly run 20–40 years with royalties typically 5–20%. Clear title and concession clarity are critical to bankability and lender approval. Structured farm-ins (often 20–50% working interest) align risk-reward across stakeholders. Community agreements reduce social conflict and operational delays.

NOCs (hold ~80% proven oil reserves in 2024) provide acreage, JV access and local regulatory alignment; co-investment can cut upfront capex ~30–40%. Service/drilling partners deliver execution, lowering mobilization time and ops risk. Offtake/midstream stabilize cash flow (Brent ~86 USD/bbl 2024); RBL LTV 50–70% and global PE dry powder ~2.5T (2024).

Operate wells, facilities and gathering systems to deliver safe, reliable output while targeting industry-standard uptime and regulatory compliance. Monitor reservoir performance and execute interventions to sustain recovery, using data-driven surveillance and artificial lift adjustments. Implement routine maintenance and integrity management to reduce unplanned downtime. US crude production averaged 12.4 million b/d in 2024 (EIA), guiding throughput planning.

Generate prospects, acquire/process seismic, drill exploration/appraisal wells (success 20–30%) and rank portfolio by risk-adjusted NPV/IRR. Execute phased drilling, facilities and first oil tie-ins timed to 2024 Brent ~85–86 USD/bbl. Operate wells/facilities to maximize uptime and recovery; US 2024 crude ~12.4M b/d guides throughput. Manage offtake, transport and hedging across crude, gas and FX.

Exploration and production licenses enable lawful operations — New Times Corp held 12 licenses covering 48,000 km2 in 2024; environmental and social permits (covering 95% of active sites) sustain continuity; access agreements secure 1,200 km of land and infrastructure routes; a 100% compliance and renewal record over the past 5 years strengthens future renewal prospects.

Proved and probable reserves plus contingent resources provide collateral and staged development optionality; independent SPE-PRMS audits boost financing credibility. Skilled geoscience, reservoir and ops teams (industry recovery ~35% in 2024) drive finding and recovery efficiency. Twelve licenses covering 48,000 km2, 95% permits and 1,200 km access routes secure operations; treasury holds ~6 months liquidity.

Resource diversification gives New Times exposure to oil/gas and minerals, balancing cycles as Brent averaged about $86/bbl in 2024 and metals saw strong demand recovery; a multi-commodity portfolio enables capital rotation into higher-return buckets. Buyers gain supply continuity across markets through cross-commodity contracting and integrated logistics. Investors access diversified cash flows and lower portfolio beta vs single-commodity peers.

Stable feedstock (aligned with 2024 demand 101.7 m b/d) and >98% uptime; unit opex 8–12 USD/boe (~20% below peers) enabling 5–10% price competitiveness. Multi-commodity exposure and JV/farm-in models (45% deal share 2024) diversify cash flows; HSE: TRIR <1.0, permits retained 100% (2024).

Operational collaboration with midstream and processing partners drove flow-assurance uptime to 99.2% in 2024 by sharing real-time data to plan maintenance windows, while joint safety drills reduced incident rates by 18% year-over-year and continuous improvement forums delivered $3.6M in measured efficiency gains.

New Times secures volumes via 3–7 year offtakes with take-or-pay and quality clauses, covering 60% of traded volume through key-account teams. Operational SLAs target 48-hour median response and achieved 99.2% uptime in 2024, driving $3.6M efficiency gains and 18% fewer incidents. Logistics collaboration cut delays/demurrage ~20–30% and community programs rose 18% with 84% grievances closed within 30 days.

Pipeline and storage access enables efficient movement, supported by US Strategic Petroleum Reserve storage capacity of about 713.5 million barrels in 2024. Terminal capacity is sized to align with production profiles and seasonal demand. Advanced scheduling systems reduce bottlenecks and off-take delays. Long-term tariffs and contracts stabilize transport costs and cashflow for midstream operations.

Direct sales tie pricing to benchmarks (Brent ~86 USD/bbl in 2024) and in-house logistics to speed cash collection. Trader partnerships cover ~60% of flows, providing origination, blending and hedge access. Pipeline/storage (US SPR ~713.5M bbl in 2024) and digital tenders (spot_online_2024 >25%) stabilize delivery and market liquidity.

Commodity traders prize flexibility and arbitrage potential, buying both spot and term cargoes to capture short-term spreads; credit terms typically range 30–90 days and optionality (rolls, volume flexibility) is decisive. Trade finance supports a roughly $2 trillion global commodity trade market in 2024. Quality certificates and prompt documentation shorten negotiation time and raise counterparties’ credit limits.

Refineries need steady, spec-consistent crude and term volumes to protect yields; global refinery capacity ~101 mb/d in 2024 (IEA). Gas buyers demand contractible volumes and reliability as gas supplied ~38% of US power in 2024 (EIA). Traders value spot/term optionality and trade finance (~$2T market, 2024). Industrials/JVs prioritize firm delivery, index-linked pricing (Henry Hub ~2.87 USD/MMBtu, 2024) and HSE/transparency.

Operating expenses cover lifting costs—labor, energy, chemicals and logistics—averaging about 10 USD/boe in 2024 for global upstream operators, with offshore higher. Planned workovers and interventions (5–8% of opex) sustain production. Environmental compliance requires continuous monitoring and periodic remediation, often adding 2–4 USD/boe. Comprehensive insurance mitigates outage and liability risks.

Upfront capex concentrated in seismic ($5,000–15,000/km2), wildcats ($20–200M/well) and facilities ($100–500M/plant); rig day rates onshore $15k–80k, offshore $150k–400k (2024). Opex ~10 USD/boe, planned workovers 5–8% of opex, ESG/compliance add 2–4 USD/boe. Financing costs rose with benchmark rates 5.25–5.50% and hedging 0.5–1.5% p.a.; farm-outs typically offset 20–60% capex.

Condensate and NGLs provide diversified cashflow for New Times Corp, with U.S. NGL output near 6.0 million barrels per day in 2024 supporting stable off-take; fractionation spreads (e.g., Mont Belvieu hub) drive margin volatility and can widen materially in supply-constrained months; steady industrial and petrochemical demand underpins liftings; optionality in storage allows timing sales into seasonal and spread-driven price peaks.

Crude revenue links to Brent ~83 USD/bbl in 2024; differentials and freight adjust netbacks by 5–12 USD/bbl. Gas indexed to JKM/TTF/Henry Hub with take-or-pay 60–90% of volumes; winter premiums +15–30%. NGLs supported by US output ~6.0 mbpd; condensate, metals tied to LME copper ~9,000 USD/t and LBMA gold ~2,100 USD/oz. JV farm-outs typically transfer 20–50% stakes.